Annuity vs drawdown – what's the difference? Many of us have spent the last few decades planning and carefully saving for the things that are important to us, whether that’s life’s luxuries, our mortgages and bills, or our plans for the future. As we get older we might have differen...
A personal pension plan can be used to save for retirement if you’re self-employed, don’t work or want to set up an additional pension. Learn about personal pensions.
The main advantage of a pension ispension tax relief. This effectively means that the government repays the tax you pay on your earnings and puts it into your pension. As a result, it costs a basic-rate taxpayer only £80 to invest £100 into their pension, while a higher-rate taxpa...
Making a valid claim on life insurance is more straightforward than you may think. Find out how life insurance pay-outs work with our guide.
For many people, having tax-free cash is a great way of kicking off retirement in style (Dreamstime) Adrian Boulding 3 Many more people today find it difficult to answer the apparently straightforward question: “What do you want from your retirement?” In “the old days”, most woul...
The amount of original capital you’re fine to dip into every year Your current tax rate What’s the Magic SWAN “Never Have to Work Again” Wealth Number? This is an actual picture of my wife taken while on vacation. Of course, there are several assumptions. My estimate is only an ap...
It’s a small thing, but a special groan for Interactive Investor for not being able to take SIPP platform charges directly from your SIPP, but rather making you pay them separately from your bank account. Doing so likely increases your effective post-tax platform cost by between 25-67%, ...
See a good independent financial adviser.When you want to draw your pension, normally you have to buy an annuity.But if you want to take some income from your pension, you can take it via a drawdown facility, deferring buying the annuity until later.If your health is poor you should ...
If you haven’t checked in on Climate Courage, do have a listen to Elizabeth Ward-Sing, as she shares her passion for the ocean and sharks, and we went really wide in this conversation, because it’s all linked! Leader’s Declaration on Food System a milestone momen...
you can take that tax-free 25% as a lump sum up front, and access the rest of your money gradually (taxed as income, of course) via an annuity or through flexi-access drawdown. “Indeed, many individuals take their pension commencement lump sum and decide not to take any income initiall...